Coincidence or a new trend? Breaking down the B² Network exploitAnother multi-million dollar exploit where the root cause wasn't a traditional smart contract vulnerability.
In the B² Network incident, the attacker gained control of the staking contract's upgrade authority. Using the legitimate upgrade mechanism, they replaced the contract implementation, allowing B2 to be withdrawn to an attacker-controlled address. Total losses reached approximately $3.9M.
After selling the stolen B2, the funds split across multiple routes:➤ one portion moved through BNB Chain into NEAR Intents / HOT;
➤ another passed through Ethereum before also reaching NEAR Intents.
Both fund flows converge at NEAR Intents, the last publicly observable point in the laundering process.
This case highlights an emerging trend: the weakest point is no longer the code itself, but control over upgrade permissions.The BitOK graphs show the two main fund flows.
Want to trace fund flows like these yourself? Explore the BitOK Graph and conduct your own on-chain investigations.
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